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Tuesday, April 25, 2006

Adirondack Craft Center for Sale

Business: This unique retail store in the Lake Placid Center for the Arts Complex (LPCA) in the Olympic Village has sold a variety of craft and home decorating giftware to tourist, local summer camp owners and residents for over 20 years. It offers an eclectic selection of rustic furniture and lamps, functional pottery, silver & gold jewelry, framed regional photography, hand sewn quilts, Adirondack pack baskets, local performer CD’s and so much more. Open year around, the stock is a variety of “standards” with which returning customers buy to add to their collections. They are always delighted to see that we have added new handcrafted giftware to our inventory each year. The merchandise selections are purchased from mostly local and regional with a few selective national artisans who make handmade crafts.

With high visibility and prominent signage, The Adirondack Craft Center is a modern retail store situated alongside the main high-volume highway that goes through the central Adirondack Park from the High Peaks to the scenic Saranac Lakes. Vacationers and event participants come to the area for its four-season sports venues and activities, golf on world-class courses, and to visit resort hotels that promote high winter, leaf season and numerous summer activities. Amid beautiful mountains and lakes, Lake Placid is both a world – class resort and a quiet home for 3000 residents and prosperous second homeowners.

Facilities and equipment: The store is a 4000 square foot, high ceiling, brightly illuminated, fully carpeted display facility with easy access and ample parking. Can accommodate bus tours. It has a conference table large “boardroom” overlooking the front lawn, and another large internal “North Gallery” space for shared (LPCA) fine artist exhibitions. There are fixtures and display racks whose décor is consistent with the unusual hand made countrified items that are sold. The long term leased premises are electrically heated and attractive. A central service-checkout counter includes a complete point of sale computer program for inventory control and commercial transactions, records, receipts, and such. There is a private restroom and two stocking areas for extra inventory and supplies.

Financial: Sales historically approach $200,000 on average. Earnings to the owner have exceeded $20,000 for pleasant work, flexible hours and challenging local involvement amid comfortable surroundings while dealing with nice people. The 4,000 sq. foot store space is least on a 3 - year agreement with the Lake Placid Center for the Arts and would be transferred to new ownership at the current monthly $1650.00 rent and $300.00 Heat & Electric. Having Consignment giftware as a portion of the store’s inventory lets the owner have unique, one of a kind items that might not be offered at other local establishments, with no money up front until sold. Wholesale inventory varies between $40,000 and $50,000 and the fixed assets, which include a quality website, www.adirondackcraftcenter.com and advertisings all ready in place, signage, furniture, displays, fixtures, equipment and office supplies value at $35,000.

Opportunity: After eight (8) satisfying years, the current owner/manager would like to enjoy the variety of another challenge. A hands-on manager looking for a well-established fun product retail business can find a comfortable, civilized challenge arraying unique merchandise purchased from talented, interesting and creative artisans. There is a chance to make an impact on the community at one’s own pace and direction, while being compensated for dealing in beautiful giftware with nice customers in a village setting. The owner is a motivated seller, willing to turn the business over for a very fair price. Vision and enthusiasm will build a satisfactory business that offers challenge and many merchandising directions to an industrious buyer with imagination.

Summary and terms: This established and unique local crafts retail is a special offering at $125,000. A stable creditworthy buyer having $50,000 to invest can merit bank financing locally and be in business quickly. Owners are motivated and will share their experience and assist in a transition.

Contact: Marilyn MacAbee, owner, (518) 523-2062, for an appointment


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